Economic Financial Solutions IFA Ltd trading as Torch Wealth Management, JAG Protection
What this means for you
Because Economic Financial Solutions IFA Ltd trading as Torch Wealth Management, JAG Protection has been declared in default, you can't complain via the Financial Ombudsman Service in the normal way. Instead, eligible customers can apply to the Financial Services Compensation Scheme for compensation.
Background
Economic Financial Solutions IFA Ltd, which traded as Torch Wealth Management and JAG Protection (FRN 592076), provided pension advice, pension transfer, and SIPP administration services to retail customers. The firm was declared in default by the Financial Services Compensation Scheme on 8 January 2020. Eligible customers may claim compensation up to £85,000 for pension-related losses, subject to FSCS eligibility criteria.
Products this firm wrote
How to claim
- Check you were a customer of this firm during the period it was regulated.
- Gather your policy / advice / contract paperwork — start with anything you have in writing.
- Identify your loss and the date it crystallised.
- Apply via the FSCS online claim portal at claims.fscs.org.uk.
- The FSCS investigation typically takes 6–18 months. They will assess eligibility, liability and quantum.